There is established the job creation incentive program. The
city council, by one or more resolutions, may implement the program
authorized by this chapter by establishing, from time to time, all
of the following by one or more resolutions:
(1) An
appropriation of funds, on not less than an annual basis, to be devoted
to the program;
(2) The
zoning classification(s) within the city in which the business must
be located;
(3) The
businesses, defined by classifications established by governmental
entities or recognized industry associations, that will be eligible
for the program;
(4) The
minimum number of new jobs created by an eligible company, at a specified
minimum compensation level that must be created by a business on the
eligible site, in order for that business to be eligible for program
assistance;
(5) The
maximum amount of program assistance any one business may receive;
(6) The
eligible development fees to which the program assistance may be applied;
(7) Other
criteria that may be used in applying the program to business expansions
or new projects;
(8) Program loan terms as referenced in Section
3.38.030.
(Ord. 1568 § 1, 1999)
The program assistance authorized by this chapter shall be in the form of a loan to an eligible business. The loan shall be on terms as set by the city council by resolution pursuant to subsection
(8) of Section
3.38.020. Such loan terms shall include the right of the city to place a lien against the businesses and/or landlord's property interest in the affected property and may include repayment provisions that do not require monetary repayment upon business performance meeting defined criteria.
(Ord. 1568 § 1, 1999)
The city council, prior to approving assistance to an eligible
business, must make the following findings:
(1) That
the city and the eligible business have entered a written agreement
detailing the responsibilities of both parties, including, but not
limited to, a waiver of certain development fees by the city and the
maintenance of minimum employment levels by the business; and
(2) That
the minimum number of new jobs created by an eligible company is a
least one hundred, though the minimum full-time equivalent (FTE) positions
created by the business may be less if the council determines there
are other economic benefits to the city from the project; and
(3) That
the total economic benefit to the community of the new jobs, as calculated
by the city, exceeds the fee revenue lost to the city; and
(4) That
the broad public benefit created by the program, based on the performance
criteria established by resolution, exceeds the private benefit; and
(5) That
the business would not have located or expanded in the city without
the benefit; and
(6) That
the agreement assures that the business will remain in the city for
a minimum of five years or repay the funds; and
(7) That
the city has determined that there are no alternative measures to
finance the improvements or create the benefit.
(Ord. 1568 § 1, 1999)
Notwithstanding the establishment of the program pursuant to this chapter or the establishment by resolution of all of the program implementation criteria pursuant to Section
3.38.020, the allocation of program assistance to any applicant shall be at the discretion of the city council. Nothing herein shall require the city council to allocate program funds to any applicant.
(Ord. 1568 § 1, 1999)